Property sales at 147 in the month rose on a seasonally adjusted basis in March but were down by 7% as compared to a year ago. The inventory of unsold houses rose sharply to remain well above the long-term average at 48 weeks of equivalent sales.

Median sales price at $340,000 was down 4% as compared to a year ago and down from the prior month. The asking price expectation of new listings was in contrast up 3% as compared to a year ago at $427,727.

The level of new listings coming onto the market in March at 273 grew as compared to February but was down 6% as compared to a year ago.